Newspaper article St Louis Post-Dispatch (MO)

Money Notes

Newspaper article St Louis Post-Dispatch (MO)

Money Notes

Article excerpt

INVESTMENT ADVICE Dean Witter Says To Buy More Bonds

Dean Witter Reynolds Inc. advised investors on Wednesday to raise the amount of their portfolios devoted to U.S. Treasury bonds to 50 percent from 35 percent. It also lowered the recommended amount held in cash to zero, down from 15 percent.

Last May, Dean Witter raised the recommended amount of bonds in so-called "model" portfolios to 35 percent from 25 percent shortly after the Federal Reserve Board raised overnight lending rates for the fourth time this year. The Fed has raised rates twice more since then.

Dean Witter's recommended bond holding is now 15 percentage points above what the brokerage regards as "normal allocation."

William Dodge, chairman of Dean Witter's investment policy committee and chief investment strategist, left his recommended allocation in stocks unchanged at 50 percent.

The change in Dean Witter's asset-allocation model came as investors abandoned stocks for high-yielding bonds. Bloomberg

***** JOB HUNTING Home Work, Job Sharing In Demand

The employment firm Snelling and Snelling reports a growing number of job seekers are looking for work they can do at home, or that they can share with another employee.

One in four applicants at Snelling offices are seeking work-at-home positions, the company says. Snelling has found work-at-home placements for financial analysts, bookkeepers, programmers and consultants.

Meanwhile, 14 percent of job applicants were looking to share positions. The company has placed office workers and telemarketers in such arrangements. Associated Press

***** HOME FINANCE 30-year Mortgage Rates Hit New High

The Federal Home Loan Mortgage Corp. …

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